Barings LLC Cuts Position in Crh Plc (NYSE:CRH)

Key Points

• Barings LLC has reduced its position in CRH Plc by 32.7%, now holding 324,565 shares valued at approximately $28.55 million.
• A majority of institutional investors own 62.50% of CRH, with firms like Blair William & Co. and World Investment Advisors increasing their stake during the fourth quarter.
• Analysts maintain a consensus rating of "Moderate Buy" for CRH, with a target price averaging $112.82, despite recent earnings missing expectations.

Barings LLC reduced its position in shares of Crh Plc (NYSE:CRH - Free Report) by 32.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 324,565 shares of the construction company's stock after selling 157,503 shares during the period. CRH comprises about 0.7% of Barings LLC's holdings, making the stock its 17th largest holding. Barings LLC's holdings in CRH were worth $28,552,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Blair William & Co. IL lifted its stake in CRH by 7.8% during the 4th quarter. Blair William & Co. IL now owns 3,245 shares of the construction company's stock worth $300,000 after acquiring an additional 234 shares in the last quarter. World Investment Advisors increased its stake in CRH by 13.4% during the fourth quarter. World Investment Advisors now owns 2,558 shares of the construction company's stock worth $237,000 after purchasing an additional 302 shares during the period. Pitcairn Co. lifted its position in shares of CRH by 8.8% during the fourth quarter. Pitcairn Co. now owns 6,488 shares of the construction company's stock worth $600,000 after purchasing an additional 525 shares in the last quarter. Bornite Capital Management LP purchased a new position in shares of CRH in the fourth quarter valued at approximately $13,878,000. Finally, Thoroughbred Financial Services LLC acquired a new position in shares of CRH in the fourth quarter valued at approximately $917,000. 62.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. DA Davidson reiterated a "neutral" rating and set a $105.00 target price (down from $120.00) on shares of CRH in a report on Thursday, July 10th. Royal Bank Of Canada cut their price objective on CRH from $127.00 to $108.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Sanford C. Bernstein began coverage on CRH in a report on Tuesday, May 13th. They issued an "outperform" rating and a $115.00 target price for the company. Morgan Stanley reissued an "overweight" rating on shares of CRH in a research note on Wednesday, May 7th. Finally, The Goldman Sachs Group restated a "neutral" rating on shares of CRH in a report on Tuesday, May 6th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $112.82.

CRH Stock Performance

CRH opened at $95.31 on Friday. The business's 50-day simple moving average is $93.24 and its 200-day simple moving average is $94.82. The company has a market cap of $64.40 billion, a P/E ratio of 20.19, a PEG ratio of 1.23 and a beta of 1.26. Crh Plc has a one year low of $74.03 and a one year high of $110.97.

CRH (NYSE:CRH - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The construction company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.06). The company had revenue of $6.76 billion during the quarter, compared to analysts' expectations of $6.77 billion. CRH had a net margin of 9.17% and a return on equity of 15.88%. As a group, analysts predict that Crh Plc will post 5.47 earnings per share for the current fiscal year.

CRH Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Friday, May 23rd were given a $0.37 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.6%. CRH's dividend payout ratio is 23.52%.

CRH Profile

CRH plc, together with its subsidiaries, provides building materials solutions in Ireland and internationally. It operates through four segments: Americas Materials Solutions, Americas Building Solutions, Europe Materials Solutions, and Europe Building Solutions. The company provides solutions for the construction and maintenance of public infrastructure and commercial and residential buildings; and produces and sells aggregates, cement, readymixed concrete, and asphalt, as well as provides paving and construction services.

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